Mumbai, 22 Apr 2024 (Commoditiescontrol):Kabuli chana (chickpea) prices in major Indian mandis (wholesale markets) remained stable for the third consecutive session. This stability is attributed to limited buying activity and a decline in arrivals from Madhya Pradesh, a key Kabuli growing region. However, container prices increased by Rs 100-200 per quintal, with larger counts experiencing more significant price hikes.
Arrivals at the Indore Mandi totaled 5,500 quintal, up slightly from Friday's 5,000 quintal. Overall arrivals in Madhya Pradesh's Kabuli growing areas were reported at 21,000 quintal, down from 28,000 quintal on Friday, with bad weather affecting some regions.
In Canada, prices for 9mm and 7mm Kabuli chana have remained stable at USD 865 and USD 744 per metric ton, respectively. Prices have traded within this range for the past month, with expectations of increased acreage for the upcoming season putting downward pressure, while lower stocks offer support.
Kabuli chana prices are expected to remain range bound in the near future. Ample supplies of smaller-sized Kabuli chana are meeting strong domestic demand. However, the limited availability of larger export-preferred varieties continues. Additionally, export demand is currently sluggish due to competition from Mexico and Canada, as well as geopolitical tensions within the Middle East, a key export market for Indian Kabuli chana.
Spot Kabuli chana Prices In Key Indian Markets:
(By Commoditiescontrol Bureau; +91-9820130172)
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